Vishnu Chemicals has successfully completed its fund raise of Rs 200 crore through a qualified institutions placement (QIP) of its equity shares. The Fund-Raising Committee at its meeting held on August 1, 2023, approved the allotment of 57,97,095 equity shares of face value of Rs 2 at an issue price of Rs 345 per share.
The first-ever QIP of the company witnessed a strong response from marquee domestic and foreign institutional investors. Emkay Global Financial Services was the sole book running lead manager for the QIP. Crawford Bayley & Co was the legal counsel to the QIP.
Vishnu Chemicals pioneered manufacturing chrome chemicals like sodium dichromate, potassium dichromate, basic chromium sulphate and yellow sodium sulphate at its plants in Medak District in Andhra Pradesh and Bhilai in Chattisgarh.
